Bill's CT Real Estate Vocab Exam
Questions and Answers 100% Pass
Licensee - ✔✔A person who has the skill and knowledge to be licensed in real estate.
Broker - ✔✔One who acts as an intermediary on behalf of others for a fee or
commission
Market - ✔✔A place where goods can be bought or sold and a price established
Salesperson - ✔✔A person who performs real estate activities while employed with or
associated with a licensed real estate broker
Supply and Demand - ✔✔The appraisal principal that follows the interrelationships of
the supply and demand of real estate
Hypothecation - ✔✔To pledge property as a security for an obligation without giving
up possession
4 Ways to Create a Lien - ✔✔Voluntary-created with property owner approval;
Involuntary-without owner approval; Statutory-created by statute/law; Equitable-
created by the court based on common law
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, Habendum Clause - ✔✔To have and to hold clause. Defines the estate being granted in
the deed.
Encumbrance - ✔✔A claim, or lien that attaches to real estate.
Encroachment - ✔✔To intrude upon another person's land such as extending over his
property line.
Defeasance Clause - ✔✔Used in leases and mortgages that cancels a specific right such
as releasing a note that has been paid.
Alienation - ✔✔The coveying or transfer of title and possession of property to another.
Subordination agreement - ✔✔Written agreement between lienholders to change the
priority of mortgage, judgment and other liens.
Types of Listing - ✔✔1) Open listing; 2) Exclusive right to sell; 3) Exclusive agency
Blockbusting - ✔✔Encouraging people to rent or sell because of the entry of protected
class moving into the neighborhood.
Title theory - ✔✔The mortgagor gives the mortgage legal title and retains equitable title,
upon full payment legal title is returned
NAR - ✔✔National Association of Realtors
Brittie Donald, All Rights Reserved © 2025 2
Questions and Answers 100% Pass
Licensee - ✔✔A person who has the skill and knowledge to be licensed in real estate.
Broker - ✔✔One who acts as an intermediary on behalf of others for a fee or
commission
Market - ✔✔A place where goods can be bought or sold and a price established
Salesperson - ✔✔A person who performs real estate activities while employed with or
associated with a licensed real estate broker
Supply and Demand - ✔✔The appraisal principal that follows the interrelationships of
the supply and demand of real estate
Hypothecation - ✔✔To pledge property as a security for an obligation without giving
up possession
4 Ways to Create a Lien - ✔✔Voluntary-created with property owner approval;
Involuntary-without owner approval; Statutory-created by statute/law; Equitable-
created by the court based on common law
Brittie Donald, All Rights Reserved © 2025 1
, Habendum Clause - ✔✔To have and to hold clause. Defines the estate being granted in
the deed.
Encumbrance - ✔✔A claim, or lien that attaches to real estate.
Encroachment - ✔✔To intrude upon another person's land such as extending over his
property line.
Defeasance Clause - ✔✔Used in leases and mortgages that cancels a specific right such
as releasing a note that has been paid.
Alienation - ✔✔The coveying or transfer of title and possession of property to another.
Subordination agreement - ✔✔Written agreement between lienholders to change the
priority of mortgage, judgment and other liens.
Types of Listing - ✔✔1) Open listing; 2) Exclusive right to sell; 3) Exclusive agency
Blockbusting - ✔✔Encouraging people to rent or sell because of the entry of protected
class moving into the neighborhood.
Title theory - ✔✔The mortgagor gives the mortgage legal title and retains equitable title,
upon full payment legal title is returned
NAR - ✔✔National Association of Realtors
Brittie Donald, All Rights Reserved © 2025 2
